Forum
Last updated: 

Can a loan shark be full of debts?

My friend loaned from a loan shark before and he was charged way more than he expected. He threatened a bunch of times yet, nothing bad happened to him. He is curious why the interest of loan sharks are larger than the usual loaners. Are they also in debt that they are charging other people with large amount to pay that?

User comments

  • user image

    No Name

    Most loan sharks have a lot of money due to their way of business. Other loan sharks are under by a much bigger company that also lend money. Even though being a loan shark is illegal, they still continue to do this business. They usually do this illegal stuffs to pay their debts. So even though they are doing illegal things, they are doing it to pay other people.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Can I buy a foreclosed house?

I need assistance with my debts.

Is my brother a possible guarantor?

What will happen if someone unfortunately die of accident leaving his debts behind?

My neighbor owed me money for a year and stil haven't paying me back.

Is being a guarantor a practical job?

Related Reviews

Greater control over foreign currency exchange rates that you get

With UOB Mighty FX, you not only save on additional foreign exchange (FX) conversion fees when you shop on overseas websites, but you also have greater control over the foreign currency exchange rates that you get. UOB Mighty FX allows you to view and exchange with real-time foreign exchange (FX) rates for popular currencies including USD, GBP, Euro, Australian Dollar (AUD) and Japanese Yen (JPY). Some exchange rates offered by UOB Mighty FX are even better than those at popular money changers, so clearly, this can help you save some money.

UOB Mighty FX / United Overseas Bank

Supports the NETS FlashPay function to top up and tap for public transport,

The HSBC debit cards have no annual fees and it offers overseas cash withdrawal with no transaction fee at HSBC ATMs. However, this is ONLY for HSBC Advance and Premier Account holders. If you do qualify, the good thing is that HSBC has a strong ATM network in countries like Hong Kong.This card also supports the NETS FlashPay function so you can top up and tap for public transport, you can also link it up with SimplyGo and can be used to withdraw cash from cash points like 7-11, Cold Storage, Guardian and ATMs with “atm5” symbol

HSBC Debit Card / HSBC Bank Singapore

No transaction fee for your cash withdrawal via 24,000 BOC ATMs in Mainland China

With this card there are no currency exchange fees for all RMB transactions through RMB account. Plus enjoy convenience via UnionPay, the largest payment network in China. Interestingly, if the balance on your RMB sub-account is insufficient, the card will deduct from your SGD sub-account based on BOC’s real time exchange rate. There are no transaction fee for your cash withdrawal via 24,000 BOC ATMs in Mainland China for a limited time however.

BOC UnionPay Dual Currency Debit Card / Bank of China

Withdraw cash in ten currencies and enjoy cash withdrawal fee waiver across all ATMs worldwide

This card lets you withdraw cash in ten currencies at $0 fee and enjoy cash withdrawal fee waiver across all ATMs worldwide. This is great news for people who aren’t comfortable with carrying large amounts of cash around, and don’t want to pay ATM withdrawal fees. So, if let’s say you’re travelling to England, you can convert SGD to Pound sterling in just a few steps instantly on the QuickFX app. You can then withdraw it using your Everyday Global Debit Card in England without having to pay foreign exchange fees and ATM fees, or simply make payments directly to the merchant.

HSBC Everyday Global Debit Card / HSBC Bank Singapore

Withdraw cash from Maybank ATMs with no transaction fees

The Maybank offers two debit cards, the Maybank Platinum Debit Card (Mastercard) and the Maybank Manchester United Platinum Visa Debit Card. Now for those of us, especially those who frequent Malaysia, the free Maybank Platinum Debit Card is pretty useful as it lets you withdraw cash from Maybank ATMs with no transaction fees. Bear in mind, however, that foreign exchange rates may apply.

Maybank Platinum Debit Card / Maybank Singapore

3% voucher rebates along with a chance to earn Takashimaya Bonus Point

This card offers a 3% voucher rebates along with a chance to earn 1 Takashimaya Bonus Point with every S$10 charged and redeem S$30 worth of Takashimaya Gift Vouchers with every 100 Takashimaya Bonus Points shopping discounts.They go even further with an additional 10% off during selected sales events in-store with complimentary free delivery service when you meet certain spend amount

DBS Takashimaya Debit Card / DBS Bank